Experts have said NHS staff will be worried about the future re-introduction of the lifetime allowance unless Labour specifically rules this out
, a cap on how much people could save into their pensions or the amount of investment growth their pensions portfolio could benefit from before tax charges kicked in.
“Labour simply omitting reference to the lifetime allowance in its manifesto doesn’t mean they cannot or will not do something similar in office,” pointed out Sir Steve Webb, the former coalition pensions minister and now a spokesperson for pension consultancy LCP.Any reintroduction of the lifetime allowance would come with some warning, and would almost certainly come in to place from the start of a new tax year.
Julian Elford, a radiologist at the Royal Hampshire county hospital, has said that he “may” consider not retiring early based on today’s news, but he will have to be absolutely certain of Labour’s commitment before he makes any decision. “But there have been so many changes, I have to say I’m now very cynical that anything that is said will happen. Had the pension rules not been changed so much, I wouldn’t be going into partial retirement now.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How dare Labour ask overworked NHS staff to work overtimeLabour Party leader Sir Keir Starmer says NHS is 'on its knees' during a visit to King's Mill Hospital in Sutton-in-Ashfield, in the East Midlands, to unveil Labour's plans to digitise the 'red book' of children's health records.
Read more »
Labour NHS backlog plan at risk of ‘staff exodus’ without urgent pension clarityLabour has said it will provide a workaround for NHS staff when it re-introduces the lifetime allowance on large pensions – but senior doctors have called for urgent clarity on how this will work
Read more »
Labour plan to increase NHS staff overtime puts them at risk of burnout, union saysStaff shortages are the bigger issue that needs to be resolved to reduce waiting lists, according to NHS unions and staff
Read more »
SNP promise bill to save NHS over claims of Labour 'privatisation'The SNP have claimed Labour pose a threat to the publicly-owned NHS - a charge described as 'outright lies' by deputy leader Jackie Baillie.
Read more »
FMQs: John Swinney tears into Labour over NHS privatisation plansJOHN Swinney a ripped into Labour's plans to 'hold the door wide open' to the private sector to ease NHS pressures.
Read more »
Junior doctors timed strikes days before election to coincide with Labour's NHS announcement, Health Sec...Junior doctors announced new strike dates days before the General Election to coincide with Labour's announcements on the NHS, the Health Secretary has suggested to LBC.
Read more »